HK Stock Market Move | Zijin Mining Group (02899) rose more than 3%, with the company raising its production guidance for the next three years. Analysts believe its long-term production growth is strong.

Zijin Mining Group (02899) rose more than 3%, rising 3.59% as of the time of publication, reaching HK$43.84, with a turnover of HK$12.51 billion. On the news front, Zijin Mining Group recently approved the "Main Mineral Production Plan for the Company for the Three Years (2026-2028) and the Vision Outline for 2035," clarifying the production targets for the main mineral products in the next 3 years. Citigroup believes that through the expansion plans of existing mines and acquisitions, Zijin Mining Group's production will continue to grow steadily in the coming years. Bank of America Securities pointed out that Zijin Mining Group has raised its production guidance for 2026 to 2028, expecting gold production to reach 130 to 140 tons by 2028, up from the previous guidance of 100 to 110 tons; the compound annual growth rate for gold production between 2025 and 2028 is projected to be 13% to 16%. At the same time, the company forecasts that copper production in 2028 will reach 1.5-1.6 million tons, with a compound annual growth rate of 11% to 14% between 2025 and 2028. The bank believes that the company's long-term production growth is strong, cost control is strict, and the valuation is reasonable, and is optimistic about the future prospects of gold and copper prices.